The Levine Museum of the New South has sold its downtown Charlotte building to a New York-based development company that has plans for studios and penthouses on the site, officials said in a press release Thursday. .
The buyer, Vela Uptown LLC, plans to convert the 7th Street property into a high-rise apartment building, according to the statement. The building sold for $10.75 million.
The museum announced its intention to sell its building last summer. At the time, Levine President and CEO Kathryn Hill said the museum would seek a “more flexible downtown location” and pursue a “community-first digital transformation.”
Vela is partnering with Connecticut-based Post Road Residential for the luxury apartment building planned for Levine’s current location.
The museum will remain open to visitors until May 15 and will continue to offer digital and neighborhood-based exhibits after that date. Afterwards, the museum will temporarily move to the Center for Visual and Performing Arts at the North Tryon Center.
Neighborhood-based exhibits will include a pop-up exhibit in the Grier Heights neighborhood of Charlotte this spring. Last summer, the museum and the city of Charlotte launched “KnowCLT,” an app-based digital walking tour of the Second Ward neighborhood formerly known as Brooklyn.
Levine’s sale is one of many changes coming to the northern edge of downtown.
County officials recently voted to spend $15.6 million to help fund a major downtown redevelopment at 7th and Tryon streets. It is a $600 million project that is expected to bring a new office tower, apartment building, plaza and other improvements to a roughly two-square block downtown.
This story was originally published March 31, 2022 4 p.m.